Jaishankar urges businesses to partner with govt to revive manufacturing for USD 30 trillion economy by 2047

"Not only 'Make in India,' we are urging businesses to procure from India," S Jaishankar said.

He said: "Businesses should take the 'Make in India' initiative as seriously as the government is taking it today."

Jaishankar made the remarks during an interactive session titled 'Viksit Bharat@2047,' hosted by the Indian Chamber of Commerce, in Kolkata.

Notably, the BJP-led government at the Centre has set ambitious economic goals of reaching a $5 trillion economy by 2027-28 and $30 trillion by 2047.

"The revival of the manufacturing sector can only happen if government and enterprises come together as a partnership," the Minister said.

His remarks come at a time when India is voting to elect a new Lok Sabha in a seven-phase poll.

In its manifesto, BJP has outlined a series of initiatives to transform India into a global manufacturing hub.

Photo courtesy: Avishek Mitra/IBNS

Ten years after storming into power, Prime Minister Narendra Modi is eyeing for the third consecutive term with a massive win of over 400 seats.

Jaishankar said the foundation laid during the past 10 years by the current government has paved the pathway towards achieving Viksit Bharat.

India looking at USD 30 trillion economy

Jaishankar said now the government's sole focus is to attain a USD 30 trillion economy within a set time frame.

He said the immediate step of the government would be to achieve a gross domestic product (GDP) growth of USD 5 trillion.

"Our immediate step is to become a USD 5 trillion economy," he said.

"Our next target will be to see when we can become a USD 30 trillion economy in our Viksit Bharat journey," he added.

"Several studies have expressed confidence that we can certainly do it by 2047 or even earlier," he underscored.

(Reporting by Supriyo Hazra, Image by Avishek Mitra/IBNS)